{"id":651458,"date":"2024-11-04T08:30:48","date_gmt":"2024-11-04T08:30:48","guid":{"rendered":"https:\/\/wncen.com\/?post_type=press_release&p=651458"},"modified":"2024-11-05T11:46:54","modified_gmt":"2024-11-05T11:46:54","slug":"from-sidechain-to-zk-merlin-chain-pioneers-transformation-in-the-bitcoin-ecosystem","status":"publish","type":"press_release","link":"https:\/\/wncen.com\/press-releases\/from-sidechain-to-zk-merlin-chain-pioneers-transformation-in-the-bitcoin-ecosystem\/","title":{"rendered":"From Sidechain to ZK: Merlin Chain Pioneers Transformation in the Bitcoin Ecosystem"},"content":{"rendered":"
Since its inception, Merlin Chain has adeptly leveraged its technical strengths and flexible strategies to foster innovation within the Bitcoin ecosystem. With a robust community foundation spanning areas such as BRC-20, BRC-420, Blue Box, and Bitmap Game, Merlin is evolving from a Bitcoin sidechain to a ZK Layer 2 solution, unlocking significant potential in decentralised finance and cross-chain interoperability.<\/span><\/p>\n <\/p>\n A recent research article by Messari highlights Bitcoin’s inherent limitations in data availability (DA) and Turing completeness (SC), which have contributed to a slower pace of ecosystem development. Merlin Chain addresses these challenges through an innovative architecture, creating a highly adaptable and technically sophisticated solution that enhances its ecosystem.<\/span><\/p>\n Initially, Merlin Chain utilised Polygon’s CDK RaaS, adopting a Validium architecture that stored off-chain data while publishing validity proofs on L1. However, this approach’s reliance on a trust chain posed difficulties for achieving full decentralisation. As the Bitcoin Layer 2 landscape evolved, Validium was increasingly supplanted by the more transparent Rollup model. In response, Merlin Chain has implemented two major upgrades:<\/span><\/p>\n Through these innovations, Merlin Chain is accelerating its journey towards establishing a Bitcoin ZK-Rollup network. Its infrastructure, which includes Node, zkProver, and Database modules, is poised to utilise the Ordinals protocol\u2019s decentralised oracle network for permissionless node distribution, public data transparency, and Bitcoin mainnet verification.<\/span><\/p>\n During a recent livestream, CEO Jeff shared key updates and exciting developments for Q4:<\/span><\/p>\n In the coming 6 to 12 months, market pressure on $MERL is anticipated to decrease significantly. Recent analyses suggest that the issuance rate of $MERL will slow considerably in the latter half of 2024, with only 0.4% of the total supply set to be released over the next 12 months. This strategic approach will help stabilise the market and create a more attractive holding environment for investors. Notably, the team\u2019s release schedule shows 0% for the first 12 months, with only 1.4% released over the following 24 months, reflecting their commitment to long-term growth and market liquidity.<\/span><\/p>\n Additionally, Merlin Chain\u2019s recent listing on the prominent cryptocurrency exchange Kraken marks a significant milestone in terms of compliance and market acceptance. The team is actively pursuing further listings on compliant exchanges to broaden its market presence and user base. These initiatives not only demonstrate Merlin Chain\u2019s strategic vision in the competitive cryptocurrency landscape but also lay a solid foundation for the sustainable growth of its ecosystem.<\/span><\/p>\n Jeff emphasised that the upcoming months are crucial for Merlin Chain\u2019s development. The team is fully committed to advancing new features and initiatives while ensuring system stability. Merlin aims to deliver major upgrades in Q4, further solidifying its role as a central player in the Bitcoin ecosystem.<\/span><\/p>\n Disclaimer:\u00a0This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Since its inception, Merlin Chain has adeptly leveraged its technical strengths and flexible strategies to foster innovation within the Bitcoin ecosystem. With a robust community foundation spanning areas such as BRC-20, BRC-420, Blue Box, and Bitmap Game, Merlin is evolving from a Bitcoin sidechain to a ZK Layer 2 solution, unlocking significant potential in decentralised finance and cross-chain interoperability. A recent research article by Messari highlights Bitcoin’s inherent limitations in data availability (DA) and Turing completeness (SC), which have contributed to a slower pace of ecosystem development. Merlin Chain addresses these challenges through an innovative architecture, creating a highly adaptable and technically sophisticated solution that enhances its ecosystem. Evolution of Merlin Chain\u2019s Architecture Initially, Merlin Chain utilised Polygon’s CDK RaaS, adopting a Validium architecture that stored off-chain data while publishing validity proofs on L1. However, this approach’s reliance on a trust chain posed difficulties for achieving full decentralisation. As the Bitcoin Layer 2 landscape evolved, Validium was increasingly supplanted by the more transparent Rollup model. In response, Merlin Chain has implemented two major upgrades: Enhanced Cross-Chain Bridges and Data Verification In partnership with BitcoinOS, Merlin developed BitSNARK, a ZK-based proof virtual machine, and Grail Bridge, enabling secure asset transfers and state verification between L2 and the Bitcoin mainnet. This intermediary network not only enhances L2 security but also strengthens interoperability across chains. Improved Data Availability (DA) Merlin has partnered with Nubit to deploy full nodes that sync Bitcoin\u2019s full-state data, achieving on-chain data verification via Bitcoin light nodes. This ensures the transparency and verifiability of off-chain data, significantly enhancing data availability. Through these innovations, Merlin Chain is accelerating its journey towards establishing a Bitcoin ZK-Rollup network. Its infrastructure, which includes Node, zkProver, and Database modules, is poised to utilise the Ordinals protocol\u2019s decentralised oracle network for permissionless node distribution, public data transparency, and Bitcoin mainnet verification. Q4 Updates and Developments for Merlin Chain During a recent livestream, CEO Jeff shared key updates and exciting developments for Q4: Wallet Upgrades and MERL as Gas Merlin has introduced the \u201cMERL as Gas\u201d feature, allowing users to pay transaction gas fees with either MERL or BTC, thereby enhancing the utility of the MERL token. The forthcoming \u201cMERL as Gas Compensation\u201d program will further incentivize user participation, driving liquidity within the network. Additionally, an upgraded AA wallet, Particle, will support MERL gas payments, significantly improving user experience. Users can now hold MERL tokens or transfer them from exchanges directly into the wallet for rapid transactions, eliminating the wait associated with Bitcoin bridge transfers and lowering entry barriers. Major Wallet Collaborations for User Incentives Merlin is collaborating with several leading wallets to launch reward programs worth millions of dollars in Bitcoin, stablecoins, and MERL tokens. This initiative aims to expand its user base and optimise on-chain transaction experiences, with a long-term goal of facilitating global growth within the Bitcoin ecosystem and attracting millions of new users. Innovative Telegram Mini-Programs and Web3 User Onboarding Merlin plans to offer a variety of on-chain services through Telegram mini-programs, including social gaming, AI tools, and token trading, to facilitate a smooth transition for Web2 users into the Web3 ecosystem. Jeff outlined three user onboarding strategies: tools specifically designed for Web3 users, social interactions based on new asset concepts, and a hybrid model integrating both Web2 and Web3 users. With Telegram API-supported mini-programs, Merlin aims to deliver a seamless on-chain experience while exploring additional fiat on\/off-ramp options. Future Outlook In the coming 6 to 12 months, market pressure on $MERL is anticipated to decrease significantly. Recent analyses suggest that the issuance rate of $MERL will slow considerably in the latter half of 2024, with only 0.4% of the total supply set to be released over the next 12 months. This strategic approach will help stabilise the market and create a more attractive holding environment for investors. Notably, the team\u2019s release schedule shows 0% for the first 12 months, with only 1.4% released over the following 24 months, reflecting their commitment to long-term growth and market liquidity. Additionally, Merlin Chain\u2019s recent listing on the prominent cryptocurrency exchange Kraken marks a significant milestone in terms of compliance and market acceptance. The team is actively pursuing further listings on compliant exchanges to broaden its market presence and user base. These initiatives not only demonstrate Merlin Chain\u2019s strategic vision in the competitive cryptocurrency landscape but also lay a solid foundation for the sustainable growth of its ecosystem. Jeff emphasised that the upcoming months are crucial for Merlin Chain\u2019s development. The team is fully committed to advancing new features and initiatives while ensuring system stability. Merlin aims to deliver major upgrades in Q4, further solidifying its role as a central player in the Bitcoin ecosystem. Disclaimer:\u00a0This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.<\/p>\n","protected":false},"author":9,"featured_media":651467,"parent":0,"template":"","class_list":["post-651458","press_release","type-press_release","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nEvolution of Merlin Chain\u2019s Architecture<\/b><\/h3>\n
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\n<\/b>In partnership with BitcoinOS, Merlin developed BitSNARK, a ZK-based proof virtual machine, and Grail Bridge, enabling secure asset transfers and state verification between L2 and the Bitcoin mainnet. This intermediary network not only enhances L2 security but also strengthens interoperability across chains.<\/span><\/li>\n
\n<\/b>Merlin has partnered with Nubit to deploy full nodes that sync Bitcoin\u2019s full-state data, achieving on-chain data verification via Bitcoin light nodes. This ensures the transparency and verifiability of off-chain data, significantly enhancing data availability.<\/span><\/li>\n<\/ol>\nQ4 Updates and Developments for Merlin Chain<\/b><\/h3>\n
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\n<\/b>Merlin has introduced the \u201cMERL as Gas\u201d feature, allowing users to pay transaction gas fees with either MERL or BTC, thereby enhancing the utility of the MERL token. The forthcoming \u201cMERL as Gas Compensation\u201d program will further incentivize user participation, driving liquidity within the network. Additionally, an upgraded AA wallet, Particle, will support MERL gas payments, significantly improving user experience. Users can now hold MERL tokens or transfer them from exchanges directly into the wallet for rapid transactions, eliminating the wait associated with Bitcoin bridge transfers and lowering entry barriers.<\/span><\/li>\n
\n<\/b>Merlin is collaborating with several leading wallets to launch reward programs worth millions of dollars in Bitcoin, stablecoins, and MERL tokens. This initiative aims to expand its user base and optimise on-chain transaction experiences, with a long-term goal of facilitating global growth within the Bitcoin ecosystem and attracting millions of new users.<\/span><\/li>\n
\n<\/b>Merlin plans to offer a variety of on-chain services through Telegram mini-programs, including social gaming, AI tools, and token trading, to facilitate a smooth transition for Web2 users into the Web3 ecosystem. Jeff outlined three user onboarding strategies: tools specifically designed for Web3 users, social interactions based on new asset concepts, and a hybrid model integrating both Web2 and Web3 users. With Telegram API-supported mini-programs, Merlin aims to deliver a seamless on-chain experience while exploring additional fiat on\/off-ramp options.<\/span><\/li>\n<\/ol>\nFuture Outlook<\/b><\/h3>\n